AKRON -- LeBron James has pledged $1 million to renovate the gym at his high school alma mater, Akron St. Vincent St. Mary.

The project will include a new floor, lighting, bleachers, heating and cooling system and upgraded training room. The gym will be known as the LeBron James Arena.

STVM hopes to have the renovations done in time for the 2013-14 season.

LeBron graduated from STVM in 2003 and was inducted into the high school's Hall of Fame in 2011.

After winning the NBA title with the Miami Heat in 2012, LeBron also gave back to his alma mater. At a rally held to congratulate LeBron on the Heat's title, he promised to buy new uniforms for every athletic team at the school.